New Ford CEO relies on veterans to reboot profits


By Sweta Singh and Joseph White

Ford Motor Co (F.N) on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rather than outside talent.

James Hackett, named CEO on Monday, has said he wants to streamline Ford’s hierarchy and speed up decision-making, as the No. 2 U.S. automaker faces threats from Silicon Valley’s self-driving technology and resurgent rival General Motors Co (GM.N) in its traditional markets.

Ford said it hired Sherif Marakby as its new vice president in charge of its autonomous and electric vehicle efforts. Marakby had been hired away from ride-hailing company Uber [UBER.UL], where he was vice president of global vehicle programs. Prior to joining Uber last year, Marakby was at Ford for more than 25 years and worked on hybrid and electric vehicles.

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Posted by on May 26, 2017, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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